Taiwan: Stocks rise; Inotera limit up again on Micron buyout plan

[TAIPEI] Taiwan stocks rose on Wednesday, tracking gains in other regional bourses before a likely hike in US interest rates, and as Inotera Memories traded limit up for a second day after Micron Technology said it would buy out the company.

As of 1.11 GMT, the main TAIEX index was up 0.9 per cent at 8,147.79, after closing at 8,073.35 in the previous session.

The electronics subindex rose 1.2 per cent, while the financials subindex gained 0.7 per cent.

Inotera jumped 10 per cent for a second session to TW$27.8 after Micron offered TW$30 per share in a deal worth US$3.2 billion to buy the company's remaining shares from Taiwan partner Nanya Technology Corp.

Nanya shares were trading up 4.7 per cent.

The Taiwan dollar firmed TW$0.212 to TW$32.814 per US dollar.

REUTERS